Energy Transfer (NYSE:ET) Trading 0.1% Higher

Energy Transfer LP (NYSE:ET) shares were up 0.1% on Monday . The company traded as high as $16.26 and last traded at $16.19. Approximately 1,704,474 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 13,294,926 shares. The stock had previously closed at $16.17.

Analyst Ratings Changes

Several brokerages have recently weighed in on ET. Mizuho boosted their target price on Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. UBS Group boosted their price objective on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. raised their target price on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday, June 20th. Finally, Morgan Stanley lifted their price target on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $19.14.

Energy Transfer Price Performance

The stock has a 50-day simple moving average of $16.06 and a 200 day simple moving average of $15.81. The company has a market cap of $54.29 billion, a PE ratio of 14.69, a P/E/G ratio of 0.46 and a beta of 1.66. The company has a quick ratio of 0.92, a current ratio of 1.14 and a debt-to-equity ratio of 1.38.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.01). Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. The company had revenue of $20.73 billion during the quarter, compared to analysts’ expectations of $22.01 billion. During the same quarter last year, the firm posted $0.25 earnings per share. The firm’s quarterly revenue was up 13.1% on a year-over-year basis. Equities analysts expect that Energy Transfer LP will post 1.4 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 9th were issued a $0.32 dividend. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.28 annualized dividend and a dividend yield of 7.95%. The ex-dividend date was Friday, August 9th. Energy Transfer’s dividend payout ratio is currently 117.43%.

Insider Buying and Selling

In other news, EVP Gregory G. Mcilwain acquired 20,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was acquired at an average cost of $15.68 per share, with a total value of $313,600.00. Following the completion of the purchase, the executive vice president now owns 591,211 shares of the company’s stock, valued at approximately $9,270,188.48. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Energy Transfer news, EVP Gregory G. Mcilwain purchased 20,000 shares of Energy Transfer stock in a transaction dated Friday, August 23rd. The shares were acquired at an average price of $15.68 per share, with a total value of $313,600.00. Following the completion of the transaction, the executive vice president now owns 591,211 shares of the company’s stock, valued at $9,270,188.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Kelcy L. Warren acquired 3,000,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was acquired at an average price of $15.68 per share, with a total value of $47,040,000.00. Following the acquisition, the director now directly owns 123,385,650 shares of the company’s stock, valued at approximately $1,934,686,992. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 3,040,000 shares of company stock valued at $47,667,200. Company insiders own 3.28% of the company’s stock.

Institutional Trading of Energy Transfer

Several hedge funds have recently modified their holdings of ET. Rehmann Capital Advisory Group grew its holdings in Energy Transfer by 2.0% during the 1st quarter. Rehmann Capital Advisory Group now owns 32,080 shares of the pipeline company’s stock worth $505,000 after acquiring an additional 633 shares in the last quarter. Veracity Capital LLC lifted its holdings in Energy Transfer by 2.0% during the 2nd quarter. Veracity Capital LLC now owns 33,575 shares of the pipeline company’s stock worth $545,000 after buying an additional 659 shares during the last quarter. Sfmg LLC boosted its position in shares of Energy Transfer by 2.2% during the 1st quarter. Sfmg LLC now owns 31,406 shares of the pipeline company’s stock worth $494,000 after acquiring an additional 674 shares in the last quarter. Morton Capital Management LLC CA raised its position in shares of Energy Transfer by 1.6% during the 2nd quarter. Morton Capital Management LLC CA now owns 44,383 shares of the pipeline company’s stock worth $720,000 after acquiring an additional 699 shares in the last quarter. Finally, FinTrust Capital Advisors LLC lifted its stake in Energy Transfer by 3.6% during the first quarter. FinTrust Capital Advisors LLC now owns 20,201 shares of the pipeline company’s stock worth $318,000 after purchasing an additional 700 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Energy Transfer Company Profile

Energy Transfer LP provides energy-related services. The company owns and operates natural gas transportation pipeline, and natural gas storage facilities in Texas and Oklahoma; and approximately 20,090 miles of interstate natural gas pipeline. It also sells natural gas to electric utilities, independent power plants, local distribution and other marketing companies, and industrial end-users.